Valmont: Q2 Earnings Snapshot
Posted Jul 21, 2021 04:47:14 PM.
Last Updated Jul 21, 2021 04:57:53 PM.
OMAHA, Neb. (AP) _ Valmont Industries Inc. (VMI) on Wednesday reported second-quarter net income of $62.1 million.
The Omaha, Nebraska-based company said it had profit of $2.89 per share. Earnings, adjusted for restructuring costs and costs related to mergers and acquisitions, came to $3.06 per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.51 per share.
The infrastructure equipment maker posted revenue of $894.6 million in the period.
Valmont expects full-year earnings in the range of $10.40 to $11.10 per share.
Valmont shares have risen 32% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $230.57, a climb of 95% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VMI at https://www.zacks.com/ap/VMI
The Associated Press
